Gateway Investment Advisers LLC acquired a new stake in shares of CMS Energy Co. (NYSE:CMS – Get Rating) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,270 shares of the utilities provider's stock, valued at approximately $221,000.
A number of other large investors have also added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in CMS Energy by 4.1% during the fourth quarter. BlackRock Inc. now owns 26,291,806 shares of the utilities provider's stock valued at $1,710,283,000 after buying an additional 1,029,930 shares during the last quarter. State Street Corp raised its stake in CMS Energy by 11.0% during the first quarter. State Street Corp now owns 16,331,901 shares of the utilities provider's stock valued at $1,142,253,000 after buying an additional 1,613,255 shares during the last quarter. JPMorgan Chase & Co. raised its stake in CMS Energy by 1.3% during the first quarter. JPMorgan Chase & Co. now owns 16,190,977 shares of the utilities provider's stock valued at $1,132,395,000 after buying an additional 214,355 shares during the last quarter. Invesco Ltd. raised its stake in CMS Energy by 0.3% during the first quarter. Invesco Ltd. now owns 4,172,552 shares of the utilities provider's stock valued at $291,830,000 after buying an additional 13,528 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of CMS Energy by 7.8% in the first quarter. Goldman Sachs Group Inc. now owns 4,105,181 shares of the utilities provider's stock worth $287,117,000 after purchasing an additional 296,933 shares during the last quarter. Hedge funds and other institutional investors own 92.62% of the company's stock.
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CMS Energy Stock Down 0.8 %
CMS Energy stock opened at $65.26 on Friday. The stock has a fifty day moving average of $68.03 and a 200 day moving average of $68.29. CMS Energy Co. has a one year low of $58.51 and a one year high of $73.76. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.65 and a current ratio of 1.00. The stock has a market cap of $18.94 billion, a PE ratio of 14.34, a price-to-earnings-growth ratio of 2.76 and a beta of 0.28.
CMS Energy Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Tuesday, September 6th will be issued a dividend of $4.50 per share. This represents a $18.00 annualized dividend and a yield of 27.58%. The ex-dividend date of this dividend is Friday, September 2nd. This is a positive change from CMS Energy's previous quarterly dividend of $0.46. CMS Energy's payout ratio is currently 40.44%.
Wall Street Analyst Weigh In
CMS has been the subject of several recent analyst reports. BMO Capital Markets decreased their price target on CMS Energy from $80.00 to $71.00 and set an "outperform" rating for the company in a research note on Monday, June 27th. Mizuho decreased their price target on CMS Energy from $74.00 to $73.00 and set a "buy" rating for the company in a research note on Thursday, June 30th. Morgan Stanley decreased their price target on CMS Energy from $69.00 to $67.00 and set an "equal weight" rating for the company in a research note on Thursday. Finally, Barclays decreased their price target on CMS Energy from $76.00 to $72.00 and set an "equal weight" rating for the company in a research note on Monday, July 18th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, CMS Energy has an average rating of "Hold" and a consensus target price of $70.80.
About CMS Energy
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CMS Energy Corporation operates as an energy company primarily in Michigan. The company operates through three segments: Electric Utility; Gas Utility; and Enterprises. The Electric Utility segment is involved in the generation, purchase, transmission, distribution, and sale of electricity. This segment generates electricity through coal, wind, gas, renewable energy, oil, and nuclear sources.
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